INTL FCStone Inc. (Nasdaq:INTL) today announced that its investment banking unit, INTL Provident Group USA, successfully closed the sale of HKR, South Korea's leading manufacturer of expansion joints, crossovers and intercoolers, to Headland Capital Partners (HCP) in Hong Kong. INTL Provident Group USA served as HKR's exclusive financial adviser to run the M&A process. HCP will combine HKR with Unison eTech (UET), another recent acquisition of HCP in Korea, as they believe the combination of UET and HKR will create synergy to expand its customer base in the engineering, procurement and production industry and power plant manufacturing business.
Mr. Jongjin Roh, CEO of HKR Co., Ltd said, "INTL Provident Group's involvement in this deal provided a critical facet of M&A experience and expertise which allowed us to proceed with confidence. INTL Provident Group's contribution to the process was critical to the successful completion of this transaction."
Steve Carlson, CEO of INTL Provident Group, added, "It was a privilege to participate in this transaction and to help to bring these two companies together. Asia represents a very important market for INTL Provident Group and we are confident that this transaction is the first of many for our team of investment banking professionals."
About INTL FCStone Inc.
INTL FCStone Inc. provides execution and advisory services in commodities, currencies and international securities. INTL FCStone's businesses, which include the commodities advisory and transaction execution firm FCStone Group, serve more than 10,000 commercial customers in more than 100 countries through our network of offices around the world. Further information on INTL FCStone Inc. is available at www.intlfcstone.com. INTL Provident Group USA is a DBA for INTL Trading, Inc. Member FINRA/SIPC.
CONTACT: INTL FCStone Inc.
Bill Dunaway
866-522-7188
bdunaway@intlassets.com